Due to the rise in the price of lithium, electric vehicles can become very expensive.

Prices for lithium-polymer battery cells have been rising over the past six months, which may negatively affect the cost of electric vehicles in the future.


An editor at eMobilCar

  • 1 min read

In the first quarter, prices for lithium-polymer batteries rose by 10-15% and the growth will continue in the second half of this year, the main reason is the rise in prices of materials used in batteries, in particular, metals.

Over the past year, lithium prices have increased sevenfold, while nickel and cobalt prices have doubled. And even if the prices of these metals fall in the short term, the cost of batteries is unlikely to stop rising.

According to experts, due to the high demand for electric vehicles, it is not worth counting on a drop in battery prices next year. Manufacturers can completely pass on rising costs to customers, which could result in higher prices for all products that use lithium polymer batteries, including electric vehicles.

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